Overview

• Porsche will launch the new large SUV above the Cayenne initially only with combustion and plug‑in‑hybrid powertrains, and will keep Panamera and Cayenne available as ICE and PHEV well into the 2030s.
• Porsche is postponing a next‑generation EV platform into the 2030s and will reset the architecture for joint development with other Volkswagen Group brands, delaying some planned BEV models.
• The company expects about €3.1 billion in extraordinary charges, including up to €1.8 billion affecting the 2025 operating result, and now guides for an operative margin of up to 2% this year.
• Volkswagen cut its 2025 outlook, flagging a roughly €5.1 billion reduction to its operating result and an approximately €3 billion write‑down on its Porsche stake, with group margin now seen at 2–3%.
• Porsche attributes the pivot to slower‑than‑expected premium BEV demand in a highly volatile market, with weak China sales and higher U.S. import tariffs further pressuring performance.